Asset prices in Japan have risen strongly in recent years, fueled by influences including cheap and abundant capital, positive yield spreads, slow but steady economic growth, and a resurgent tourism sector that has proved to be a boon for local retailers. And, not least, positive sentiment around the 2020 Summer Olympics has been a factor, with many investors believing the market will remain buoyant until after the Games are finished. Recently, however, perceptions have shifted, with a growing body of opinion gravitating towards the view that a correction may occur well before summer 2020.

Though the postcard photos of Shanghai’s gleaming Pudong district are familiar, fewer people are aware of the large numbers of heritage properties the city is conserving and regenerating, said panelists at the 2019 ULI Asia Pacific Summit.

A jury composed of ULI full members has selected the winners of the 2019 ULI Asia Pacific Awards for Excellence, recognizing and celebrating a diverse group of projects that showcase best land use practice from across the region. “Asia Pacific is home to many exemplary projects,” said Nicholas Brooke, chairman of ULI Asia Pacific. “All the winners of this year’s award demonstrate best practice in land use and continue to push the industry forward while putting people first.”

The ambitious development plan promises great rewards, but faces multiple challenges in integrating diverse communities.

The cover package for the 2019 Asia Pacific special issue is titled “Finding Balance: The quest for smart buildings, smart tourism, and smart climate strategies.” Other topics include “South Korea: Heritage at Jeonju Hanok Village,” “ China: Intercontinental Shanghai Wonderland Hotel,” “Thailand: Dealing with Bangkok’s Climate Challenge,"and “Interview: Chairman Nicholas Brooke.” This special issue will be available at the ULI Asia Pacific conference in Shanghai and mailed to ULI members in Asia.

As global tourism spreads to more remote locations, deliberate measures can create positive outcomes for the environment—and local cultures.

The InterContinental Shanghai Wonderland Hotel in China’s Songjiang District, near Shanghai, appears modest when approached from ground level because only two storeys project above ground and green roofs help them blend into the surrounding greenery. But when guests step inside, they see the dramatic construction, attached to the rock like a hanging garden.

Nicholas Brooke, an acclaimed authority on land administration and planning matters, and one of Hong Kong’s most widely recognized champions of innovation and technology, has received dual recognition from ULI in being selected as the new chairman of the Asia Pacific region and the first ULI Life Trustee from Asia Pacific.

Hong Kong’s former chief executive, C.Y. Leung, now a member of the National Committee of the Chinese People’s Political Consultative Conference, an important political advisory body, said the development of the broader region could be a significant driver of growth and relieve stress on the core market for new construction.

Seoul’s Bukchon Hanok Village is a 600-year-old traditional settlement located in the southern part of the city that was once home to the aristocratic families of Korea’s Joseon dynasty. Although many of the area’s historic hanok homes have disappeared over the centuries, rebuilding work during the 1930s ensured some 1,200 traditional homes still exist in the area.